Tuesday, September 1, 2009

09.01.09 - A.M. Roller Coaster

The market has put in a large range expansion, logging two easy on the eyes trades all the way down to this congestion zone into the early August swing-high range (SPY $100-101). Internals are highly negative with rather severe momentum, suggesting that to me there could be further downside in the P.M. session after this first reaction pause.

Well, that would be a recent first, wouldn't it!? [GRAPHIC]

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